2006/10/06 13:35 Carl Schramm, "The Entrepreneurial Imperative"

This digest was created in real-time during the meeting, based on the speaker's presentation(s) and
comments
from
the audience. The content should not be viewed as an official
transcript of
the meeting, but only as an interpretation by a single individual.
Lapses,
grammatical errors, and typing mistakes may not have been corrected.
Questions
about content should be directed to the originator. The digest has been
made
available for purposes of scholarship, posted on the
Coevolving Innovations web site by David Ing.

Intro by Jim Spohrer

Kauffman Foundation - Entrepreneurship

A lot of service innovations come from small companies

Schramm is working with Baumol, who in the 1960s said that
services are
stagnant, has now changed his mind

[Carl Schramm]

Transformation comes from the outside

Post-war conception of business:

Big business

Big government

Unions

Assume economics works like engineering

But economics doesn't work like, move when have failures

John Kenneth Galbraith: big firms will be responsible for
ensuring prosperity

So did Drucker

What about entrepreneurs?

Last person to write about entrepreneurs was Schumpeter in
1938

Economist studied monetarism or Keynes, or macro

No one studies when firms started

Baumol resurrected interest

American Economic Association only started studying
entrepreneurism 4 months ago

Terrible economic times in 1970s

Almost did error in bureaucratic policy to follow Japan, John
Kenneth Galbraith in Washington, doing centralized planning